Big Lots 2007 Annual Report Download - page 128

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40
Report of Independent Registered Public Accounting Firm
To the Board of Directors and Shareholders of Big Lots, Inc.
Columbus, Ohio
We have audited the accompanying consolidated balance sheets of Big Lots, Inc. and subsidiaries (the
“Company”) as of February 2, 2008 and February 3, 2007, and the related consolidated statements of operations,
shareholders’ equity, and cash flows for each of the three years in the period ended February 2, 2008. Our
audits also included the financial statement schedule listed in the Index at Item 15(a)2. These financial
statements and financial statement schedule are the responsibility of the Company’s management. Our
responsibility is to express an opinion on the financial statements and financial statement schedule based on our
audits.
We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board
(United States). Those standards require that we plan and perform the audit to obtain reasonable assurance
about whether the financial statements are free of material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made by management, as well as evaluating
the overall financial statement presentation. We believe that our audits provide a reasonable basis for our
opinion.
In our opinion, such consolidated financial statements present fairly, in all material respects, the financial
position of the Company at February 2, 2008 and February 3, 2007, and the results of their operations and their
cash flows for each of the three years in the period ended February 2, 2008, in conformity with accounting
principles generally accepted in the United States of America. Also, in our opinion, such financial statement
schedule, when considered in relation to the basic consolidated financial statements taken as a whole, present
fairly, in all material respects, the information set forth therein.
As discussed in Note 1 to the consolidated financial statements, the Company adopted the provisions of
Financial Accounting Standards Board Interpretation No. 48, Accounting for Uncertainty in Income Taxes —
an Interpretation of Financial Accounting Standards Board Statement No. 109, effective February 4, 2007.
As discussed in Note 1 to the consolidated financial statements, the Company adopted the provisions of
SFAS No. 123(R) (Revised 2004), Share-Based Payment, effective January 29, 2006. As discussed in Note 1
to the consolidated financial statements, the Company adopted the provisions of SFAS No. 158, Employers’
Accounting for Defined Benefit Pension and Other Postretirement Plans, an amendment to SFAS Nos. 87, 88,
106, and 132(R), effective February 3, 2007.
We have also audited, in accordance with the standards of the Public Company Accounting Oversight Board
(United States), the Company’s internal control over financial reporting as of February 2, 2008, based on
the criteria established in Internal Control—Integrated Framework issued by the Committee of Sponsoring
Organizations of the Treadway Commission and our report dated April 1, 2008 expressed an unqualified
opinion on the Company’s internal control over financial reporting.
DELOITTE & TOUCHE LLP
Dayton, Ohio
April 1, 2008